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Exercise 14-7 Trend Percentages [LO14-1] Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market. The companys current assets, current
Exercise 14-7 Trend Percentages [LO14-1]
Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market. The companys current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows:
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||||||||||
Sales | $ | 4,538,870 | $ | 4,881,960 | $ | 5,149,940 | $ | 5,424,250 | $ | 5,822,260 | |||||
Cash | $ | 81,291 | $ | 95,072 | $ | 94,446 | $ | 72,447 | $ | 72,613 | |||||
Accounts receivable, net | 403,859 | 431,206 | 448,867 | 508,969 | 565,343 | ||||||||||
Inventory | 807,296 | 882,375 | 819,074 | 890,330 | 903,322 | ||||||||||
Total current assets | $ | 1,292,446 | $ | 1,408,653 | $ | 1,362,387 | $ | 1,471,746 | $ | 1,541,278 | |||||
Current liabilities | $ | 307,094 | $ | 342,425 | $ | 337,898 | $ | 332,298 | $ | 399,054 | |||||
Required:
1. Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)
Can you please show how you got the answers too!
Year 1 Year 2 Year 3 Year 4 Year 5 Sales Current assets Cash Accounts receivable Inventory 0 0 0 Total current assets 0 0 0 Current liabilitiesStep by Step Solution
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